According to a research conducted by J.D. Power and Associates, a global marketing information company, overall credit card satisfaction in 2010 averages 714 on a 1,000-point scale, up 9 points from 705 in 2009. The increase has been mainly triggered by improvements in satisfaction with credit card terms as well as billing and payment processes.
The study has shown that revolvers, or customers who typically carry account balances from month to month, have declared themselves most content with credit card terms. On the other hand, satisfaction among transactors, also known as customers who always or usually pay their entire credit card balance each month, has seen a slight decline when compared with 2009.
However, the research also points out that in spite of the fact that consumers perceive card issuers as “financially stable” and even “reliable,” they still continue to view them as “customer driven.” Customers who declared that they “definitely will not switch” primary cards in the next 12 months continues to decline, averaging 22 percent in 2010, down from 25 percent in 2009 and 30 percent in 2008.
Moreover, conversations among online consumers have indicated that many customers compare their relationships with credit card companies with an ongoing game of “cat and mouse,” with each side trying to outsmart the other.
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